This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

LTX-Credence Announces Fourth Quarter And Fiscal Year Results

NORWOOD, Mass., Aug. 29, 2012 (GLOBE NEWSWIRE) -- LTX-Credence Corporation (Nasdaq:LTXC), a global provider of market focused, cost-optimized ATE solutions, today announced financial results for its fourth quarter and fiscal year ended July 31, 2012.

Sales for the 2012 fourth fiscal quarter were $43,462,000, up from the prior quarter sales of $30,837,000. Net income for the quarter was $1,356,000, or $0.03 per diluted share on a GAAP basis. Excluding the net favorable impact of special items totaling $403,000, and amortization of purchased intangible assets of $791,000, net income for the quarter was $1,744,000, or $0.04 per diluted share on a non-GAAP basis.

For the twelve-month period ended July 31, 2012, sales were $132,134,000. Net loss was $(19,869,000), or $(0.40) per share on a GAAP basis. Excluding the net favorable impact of special items totaling $145,000, and amortization of purchased intangible assets of $3,163,000, net loss for the year was $(16,851,000), or $(0.35) per share on a non-GAAP basis.

Dave Tacelli, chief executive officer and president, commented, "Our business recovered in the quarter with revenue growing over 40% compared to the prior quarter. We returned to profitability and generated approximately $5M of cash from operations. We made good progress in establishing the Diamondx as a strong alternative to competitive offerings in the microcontroller and application specific product areas and believe we are on track to achieve our market share goals for this innovative new product.

Our outlook for the first fiscal quarter is supported by strength in the mobility and automotive markets plus initial revenue contributions from the Diamondx. While macroeconomic conditions have caused some customers to hold off on capital purchases, others remain in a steady pace of capacity expansion. As we begin the new fiscal year, our product lineup, focus on key market segments and new business development opportunities should lead to year-over-year growth."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,084.49 +33.74 0.20%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,830.47 +19.6820 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs